Walker Review: Risk gets its own board committee at financial firms

Houses of Parliament London

The UK's Walker Review on corporate governance, released today, will establish a risk committee on every bank's board of directors, as well as require higher levels of compensation disclosure than most other countries.

To improve governance, the Review recommends a number of changes to the way boards of directors operate at financial institutions. The Review seeks to “make the boardroom a more challenging environment” by requiring non-executive directors to devote enough time to their role with